@bernhardtra wrote:One thing which isn't brought up much here is lowering your APR. It is occasionally mentioned in individual threads but I don't think I have ever seen it as a topic. I think that while some might think it belongs somewhere else, I feel it's OK here so that we can all be reminded of it and benefit.
Many people think they are stuck with the APR they are given, but this is certainly not true.
I don't know how every card does it, but some will offer you a lower APR if you ask them. Some will do a permanent change, while other will only do a special time only change. Capital One will do it for a promotional time and so will Discover. However it doesn't seem these two are often inclined to lower it on a permanent basis, unless you have had the account for a long time.
American Express, Comenity, Barclays, are just some that I have called up and asked for a lower APR on my account and they have done so. In fact it was last night that Amex and Barclays did. I actually don't use either of the accounts much. I got the Amex (Delta) for the bonus points and the Barclays because I thought it would grow with me. (The only benefit to the Barclays is the 2% on gas and groceries, which won't matter when I PC the Amex to the BCE!) I don't know if the fact that I don't use the card much played into it or if it was account history, credit score, or all combined. The Barclays was dropped 3.5 points and the Amex was dropped 4 points. I always pay in full and the at least know that in regards to their account. If they are watching my balances from month to month then they also know I only revolve my balance on two accounts. (Actually, I don't, my niece and my sister do, they have no cards, so I let them use mine. I am a nice relative.)
3-5 points dropped could save some of us a bit of money throughout the year who do revolve their balances. It doesn't hurt to try. I try and I actually have no real benefit at the moment to take advantage of it, however if I ever do I will certainly benefit from it. So call them up and ask them. It doesn't hurt to ask!
Can I do this on my auto loan with GM financial? Stuck with 20.99 APR!! 
I don't often carry a balance, but there have been times when I've had to do so, and having low APR cards available helped.
Additionally, there were times I needed to carry a balance on my Chase Freedom. It was a Providian, then WAMU. They have expressed that they will never be able to lower APR...but the Chase rep shared with me that they will remove up to three months of interest charges every three months.
Several months back, I very stupidly chose to utilize an Ink promo transfer. I had a small balance on my for the month on the card- like $1200 or something that I was going to PIF that month, but the BT went through much faster than expected, and hit before the payment was applied. Because the business cards are not subject to the same rules under the FCRA of '09, when I went to pay off the $1200,it was applied to the promo amount. They wouldn't budge on how they decide on applying payment, nor my APR, so I requested a reversal of interest charge, which they granted. And two months later, when I paid off the BT, they reversed the interest charges that had accrued to that point.
I agree that using credit cards in any way that the card companies make money isn't advantageous. But I do think it's vital to know what options are available to you if you are in a situation where you need to carry a balance. I'm also certain there are plenty of people here that are chopping away at a balance and could use some of these strategies. I'm not proud of my credit past, but strategies like the OP's and the kind Chase CSR (yes- it pays to chat with them and build a connection- the one who I spoke to initially had credit issues himself and gave me information that saved me quite a bit) are helpful when you are trying to build a better credit future.
Additionally, there were times I needed to carry a balance on my Chase Freedom. It was a Providian, then WAMU. They have expressed that they will never be able to lower APR...but the Chase rep shared with me that they will remove up to three months of interest charges every three months.
Several months back, I very stupidly chose to utilize an Ink promo transfer. I had a small balance on my for the month on the card- like $1200 or something that I was going to PIF that month, but the BT went through much faster than expected, and hit before the payment was applied. Because the business cards are not subject to the same rules under the FCRA of '09, when I went to pay off the $1200,it was applied to the promo amount. They wouldn't budge on how they decide on applying payment, nor my APR, so I requested a reversal of interest charge, which they granted. And two months later, when I paid off the BT, they reversed the interest charges that had accrued to that point.
I agree that using credit cards in any way that the card companies make money isn't advantageous. But I do think it's vital to know what options are available to you if you are in a situation where you need to carry a balance. I'm also certain there are plenty of people here that are chopping away at a balance and could use some of these strategies. I'm not proud of my credit past, but strategies like the OP's and the kind Chase CSR (yes- it pays to chat with them and build a connection- the one who I spoke to initially had credit issues himself and gave me information that saved me quite a bit) are helpful when you are trying to build a better credit future.
I can't edit on my phone- that should read "every SIX months." They will reverse up to 3 interest charges every six, if you are a valued Chase customer- that is what was expressed to me at the time.
I've only had to do this a couple of times, but it was good to know, and they have never refused me.
I've only had to do this a couple of times, but it was good to know, and they have never refused me.